MUZAFFARABAD: Pakistani officials evacuated more than 50 Chinese nationals working near the Kashmir frontier, authorities said Wednesday, after skirmishes with India killed at least three people and injured dozens.
The Chinese were working on a dam being constructed in Azad Kashmir along the confluence of the Neelam and Jhelum rivers when firing pushed authorities to move the workers late Tuesday, according to Akhtar Ayub from the local disaster management authority.
Another local official Raja Shahid Mahmood said the decision was made after Indian security forces fired a volley of “indiscriminate fire that killed three people including a woman and a child and wounded 31 others during the last 24 hours.”
Tensions remain high with arch-rival India after the nuclear armed neighbors launched tit-for-tat air strikes in February following a suicide bombing in Indian administered Kashmir which was claimed by Pakistan-based militants.
Since then they have stepped back from the brink, but firing between the two sides across the de-facto border dividing Kashmir has continued.
Kashmir is ruled in part but claimed in full by both countries, who have fought two of their three wars since independence in 1947 over it.
The latest incident comes after US President Donald Trump Trump triggered a political fiasco in India last week by claiming during a meeting with Pakistani Prime Minister Imran Khan that Indian leader Narendra Modi had asked him to mediate in the Kashmir dispute.
India vehemently denied that Modi had made any such request, saying the Kashmir issue must be resolved bilaterally between the two countries.
Pakistan evacuates Chinese nationals as firing in disputed Kashmir kills three
Pakistan evacuates Chinese nationals as firing in disputed Kashmir kills three
- The Chinese were working on a dam being constructed along the confluence of Neelam and Jhelum rivers
- Casualties resulted from firing of Indian forces inside Pakistan administered territory
Pakistan PM calls PIA privatization ‘vote of confidence’ as government pushes reforms
- The loss-making national flag carrier was sold to a Pakistani consortium for $482 million after two failed attempts
- Finance minister vows to continue economic reforms, engage international partners through trade and investment
KARACHI: Prime Minister Shehbaz Sharif said on Tuesday the privatization of state-owned Pakistan International Airlines marked a “vote of confidence” in the country’s economy, as the government presses ahead with structural reforms aimed at easing pressure on public finances and attracting investment.
The sale of the loss-making national carrier by a Pakistani consortium, which secured a 75 percent stake for Rs135 billion ($482 million), follows two previous attempts to privatize PIA. The development comes as Pakistan seeks to build on macroeconomic stabilization after a prolonged balance-of-payments crisis, with authorities trying to shift the economy toward export-led growth and policy continuity.
“It was our firm commitment to the people of Pakistan that speedy and concrete steps would be taken to privatize loss-making state-owned enterprises that have been a burden on the economy,” Sharif said in a post on X. “The successful completion of the transparent and highly competitive bidding process for the privatization of PIA marks an important milestone in fulfilling that commitment.”
“The strong participation of our leading business groups and some of Pakistan’s most seasoned and respected investors is a powerful vote of confidence in our economy and its future,” he added.
https://x.com/cmshehbaz/status/2003498418984128908?s=46&t=SApcAZAv0zK56lMSgiF_fg
The government has made privatization of state-owned enterprises a key pillar of its reform agenda, alongside changes to taxation, energy pricing and trade policy, as it seeks to stabilize the economy and restore investor confidence.
Meanwhile, Finance Minister Muhammad Aurangzeb told an international news outlet Pakistan had reached a critical turning point, with macroeconomic stability and sustained reforms helping shift the economy from stabilization toward growth.
“Macroeconomic stability, sustained reforms and policy continuity are restoring confidence, shifting the economy from stabilization to export-led growth,” he said in an interview with USA Today, according to a statement issued by the finance ministry, adding that the government was opening new opportunities for domestic and global investors.
Aurangzeb said inflation had eased sharply, external balances had improved and foreign exchange reserves had risen above $14.5 billion, while Pakistan had recorded both a primary fiscal surplus and a current account surplus for the first time in several years.
The finance minister noted that economic growth remained insufficient to meet the needs of a fast-growing population, pointing out the importance of continuing structural reforms and encouraging investment in sectors such as agriculture, minerals, information technology and climate resilience.
Despite ongoing risks from global commodity prices, debt pressures and political uncertainty, Aurangzeb said the government remained committed to staying the reform course and engaging international partners through trade and investment.
